A latest report from the Goldman Small Cap Research has infused a new bout of positivity in the stock of Pharmacyte Biotech Inc (OTCMKTS:PMCB). The report highlighted the company’s potential in entering $176 billion worth of diabetes market.

Potential in diabetes

The report claimed support from the release of a recent research paper, which showed that the company’s proprietary Cell-In-A-Box technology is effective in addressing Type 1 Diabetes (T1D).

The Goldman Cap Research’s analyst Rob Goldman wrote in his report that Pharmacyte Biotech Inc (OTCMKTS:PMCB) attained a new milestone earlier this week, when a member of its International Diabetes Consortium concluded in a study that Pharmacyte’s live-cell encapsulation methodology can completely cure Type 1 Diabetes. The research paper arrived at the conclusion after examining the impact of the company’s technology in protecting the Melligen cells.

These cells produced from the human cells have the capacity of producing insulin to counter blood glucose levels. These cells were transplanted in diabetic mice to study their efficacy in overcoming the blood glucose levels.

Other developments

On successful reversal of Diabetes, the research paper outlined a summary stating that Melligen cells can effectively achieve results when encapsulated before introducing into the human system. Another round of trials are ongoing to establish that Pharmacyte Biotech Inc (OTCMKTS:PMCB)’s technology is appropriate in preserving the qualities of Melligen cells. Once the results of the trial are confirmed in favor of Pharmacyte Biotech Inc (OTCMKTS:PMCB), it will open the company to a plethora of opportunities in the market. Other than this the company has also appointed Thoman Liquard as a Director on its Board, who was earlier, associated with Alchemia Ltd. and Pfizer Inc (PFE).

The stock of Pharmacyte Biotech Inc (OTCMKTS:PMCB) rose by 25.43% to $0.217 on Thursday and a total of 3.16 million shares traded on the day.